Bottom fishing or taking over? Eric Trump's $34 million bet $BTC takes off?
Just now, Eric Trump's American Bitcoin Corp (ABTC) purchased 363 bitcoins for approximately $34 million.
Why dare to bottom fish at this time? On one hand, buying heavily when Bitcoin has pulled back over 30% from its peak and market panic is rampant demonstrates a strong belief in the long-term value of cryptocurrency, attempting to replicate the success of "being greedy when others are fearful."
On the other hand, ABTC's own stock price has plummeted over 78% from its peak, and this investment undoubtedly amplifies the company's risk of price volatility in relation to Bitcoin, binding the family wealth even deeper to the rollercoaster of the crypto market.
Essentially, this transaction goes beyond simple asset allocation; it resembles a powerful hedge by the Trump family against its political and financial narrative.
Success would further consolidate their brand image as the "cryptocurrency president" family; failure could become another painful loss in their crypto portfolio.
But will such a failure really happen?
